Trump threatens to substantially raise tariff on India over Russian oil purchase

Washington: US President Donald Trump on Monday threatened to substantially raise tariffs on India for purchasing oil from Russia.

In a Truth Social post, Trump, however, did not elaborate on what kind of tariffs those would be.

“India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits. They don’t care how many people in Ukraine are being killed by the Russian War Machine,” Trump wrote in his social media post.

“Because of this, I will be substantially raising the Tariff paid by India to the USA,” he added.

Earlier, Stephen Miller, one of Trump’s most influential advisors, said that the US President clearly believes India should stop buying Russian oil.

“What he (Trump) said very clearly is that it is not acceptable for India to continue financing this war by purchasing oil from Russia,” Miller said on Sunday Morning Futures.

He, however, said that Trump’s relationship with Prime Minister Narendra Modi is “tremendous”.

Last week, the US President said he would impose a 25 per cent tariff on goods imported from India, along with a penalty for buying Russian oil.

Meanwhile, government sources have clarified there is no pause on the oil imports from Russia. According to sources, “India’s energy purchases are driven by national interests and market forces. We do not have any reports of Indian oil firms halting Russian imports”.

Trump has threatened 100 per cent tariffs on countries that buy Russian oil unless Moscow reaches a major peace deal with Ukraine.

MEA spokesperson Randhir Jaiswal said last week that “You are aware of our broad approach to energy sourcing requirements, that we look at what is available in the market and the prevailing global situation. We are not aware of any specifics”.

India sources its oil purchases based on global market offerings to meet its energy.

“Our ties with any country stand on their merit and should not be seen from the prism of a third country. As far as India-Russia relations are concerned, we have a steady and time-tested partnership,” said the MEA spokesperson.

IANS